Economics Personal Statement

Sample Economics Personal Statement

My ambition to study for a degree in Economics has developed out of my AS course, and the rapid realisation I came to that I am living in an extremely interesting time for all economists. The crash of 2008 changed the appearance of the world quite suddenly. Prosperous countries were looking at bankruptcy, emerging economic powers were finding that the markets for their goods were disappearing, and countries that needed economic development were faced with increasing hardship. Curiously, perhaps, no economist’s voice of warning had been heard – at least not loudly enough to have any effect – and in the last three years the debate has continued about the causes of the slump, whether it was the bankers’ recklessness with their lending or the inadequacy of government regulation. It also struck me very early in my study of the subject how economic factors seem to be of the greatest importance in almost every human project or endeavour. Everything depends on affordability, or the likelihood that the expense of building something or establishing any programme of action will cover its own costs in some way. Nations have risen and fallen in world history because of economic developments or changes. But Keynes seems to have been right when he talked about the role of uncertainty in economic forecasting, and it is this aspect that really fascinates me. Economics attempts to be a science of human behaviour, offering patterns, measurements and rules, and yet the unpredictable continues to happen.

Reading Robert’s Skidelsky’s book The Return of the Master filled me with exciting ideas about the division of beliefs between the Keynesians and the neo-classical economists. Skidelsky suggests that Keynes argued that there is an over-reliance on mathematical modelling and thinking at the expense of other approaches in economic assessments. Keynes has been out of fashion for a time; deficit financing has been taken to a catastrophic extreme, perhaps. And yet the neo-classical, monetarist school can offer no obvious way out of the problem, and Keynes’s prediction of continuing depression is not so far-fetched. It has happened in Japan already. The lesson of 2008 is still not entirely clear.

These are fascinating speculations and I am very keen to study the subject at an advanced level. I keep abreast of developments in economics by reading The Economist weekly and following news stories about policy plans and reform measures adopted around the world as well as in the UK. My aptitude for mathematics is a great advantage for me in my studies, particularly with econometrics. To gain some practical experience of working in the financial world I undertook a placement with JLT group, a top London brokering firm, where I worked with professional brokers, which was inspiring and exciting and confirmed my belief that this is the field in which I should like to spend my working life, probably in stockbroking and investment banking. I have some Spanish, and was able to use it in dealing with the South American sector. I feel very privileged that JLT have offered me a further one-month internship in the future.

Outside my interests in economics I am a keen sportsman, playing football as captain of my town team for five years, and I play cricket and tennis at county level. I enjoy the competitive element as well as the experience of being a member of a team. I continue to work towards a D of E Gold Award, which has called for a lot of perseverance and commitment. In the summer of 2012 the team plan is to trek in the Atlas Mountains for five days and then undertake a community project in a Moroccan village.

I am hard-working and enjoy competition, and I put much effort into achieving the goals I am set. I know the importance, too, of careful planning in the face of problems and the need for caution if success is to be achieved. My commitment to my chosen subject is very strong and I hope you will consider my application.

We hope this sample Economics personal statement will be found helpful by those of you who are writing their personal statements for university.